BlackRock CEO Larry Fink in his latest interview Ethereum He stated that it may be possible to launch an ETF even if it is classified as a security. Fink stated that he did not think such a description would be harmful.
This classification of Ethereum is considered a very interesting development, according to ETF analyst Nate Geraci. Geraci noted the seriousness of the SEC’s efforts to classify ETH as a security. While it is unlikely that an ETH-based spot ETF will be approved in May, Geraci argued that such a product could be allowed following security classification.
According to Geraci’s comment on social media, as Koinfinans.com reported, it may be possible for the SEC to approve Ethereum-based products, especially considering its approval of other crypto futures ETFs.
The SEC is reportedly making an aggressive push to classify the largest altcoin as a security, despite this contradicting the stance of the CFTC, which recognizes ETH as a commodity. News that the Ethereum Foundation is under investigation is also reflected in the ecosystem.
On the other hand, long-term expectations for Bitcoin were also expressed in the Larry Fink interview. While Fink predicts a high potential for Bitcoin, he noted that retail demand is difficult to predict. BlackRock’s IBIT broke records and became the fastest growing ETF.
Robert Mitchnick, head of digital assets at BlackRock, stated that demand for Ethereum from his customers has been low in recent days. According to Mitchnick, other altcoins are seeing almost no demand and Bitcoin still remains the top priority for the financial giant.
